Taxation on compromise or settlement money recd

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Vishnu kavathe (Querist)
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21 September 2016 I Have Client who Recd Rs.30 Lac As Compromise or Settlement Money In Case of Disputed Land.is any Tax Payable on this Money??, How Much it is??, It Is Liable to Capital Gain ???,Under Which Head it is taxable???.Is any Deduction is available for it ???

Amol S Joglekar

Amol S Joglekar (Expert)
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21 September 2016 Is it surrender of right in land?

Vishnu kavathe

Vishnu kavathe (Querist)
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30 September 2016 Yes Sir it is Surrendar of Right. How It is Taxable, but No Documentory Evidence is Available.

Amol S Joglekar

Amol S Joglekar (Expert)
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03 October 2016 it is capital gain....you can avail exemptions u/s 54EC
but why are you saying that there is no documentary evidence?

Advocate

Advocate (Expert)
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22 November 2016 Give full details or you are making funny query.

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